Outdoor Power Equipment (OPE) Market to Increase Gradually with the CAGR of 5.3% During the Forecast Period; Technological Advancements And Economic Growth In Various Countries to Push Market Growth

The global Outdoor Power Equipment (OPE) market size is estimated to display strong growth by reaching USD 48.08 billion by 2030. Fortune Business Insights™ in its report titled “Outdoor Power Equipment (OPE) Market Size, Share & COVID-19 Impact Analysis, By Type (Lawn Mowers {Walk-behind Mowers, ZTR Mowers, Riding Mower, Robotic Mower, and Lawn & Garden Tractor}, Trimmers {Hedge Trimmer, Brush Cutter & Trimmer, Edge Trimmer/Edger, and Others}, Blowers {Snow Blower and Leaf Blower}, Chainsaw, Pressure Washer, Tillers & Cultivators, and Others), By Power Source (Gasoline Powered, Battery Powered, and Electric Motor/Corded), By Sales Channel (E-commerce and Direct Purchase), By Application (Residential/DIY and Commercial), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 31.80 billion and is expected to reach USD 33.50 billion in 2023. The market is expected to witness a strong CAGR of 5.3% during 2023-2030. Outdoor Power Equipment is used for various tasks such as landscaping and maintaining lawns, gardens, and golf courses. Technological advancements and economic growth of various countries is expected to drive market growth. Demand for battery-powered and cordless saws within the construction industry is one of the primary factors driving the market development.

Karcher Introduced KIRA B 100 R and Brain Corporation Brain OS Powers

New product launches by the market players are propelling the market share. In April 2022, Karcher introduced KIRA B 100 R and Brain Corporation Brain OS powers, one of the globally recognized and commercially authenticated software base for autonomous mobile robots and their functional indoor public areas.   

Market Witnessed a Demand for the Product Despite the Pandemic

The COVID-19 pandemic affected various industries verticals due to travel restrictions and lockdown rules. The market witnessed a demand for the product despite the pandemic and also in the year 2021. In addition, factors such as sales through e-commerce websites specifically for residential or DIY consumers boosted the demand for the equipment.   

Emergence of Advanced and New Smart Technologies to Positively Influence the Adoption of the Product

Emergence of advanced and new smart technologies is predicted to drive the Outdoor Power Equipment market growth. Introduction of new products which are equipped with new and advanced technologies is capturing the attention of more and more customers. Manufacturers are focusing on delivering connected equipment as the adoption of IoT devices, and the popularity of smart and connected products grows. The market players are focusing on innovation and development of new products to maintain their competitiveness in the market.

However, high costs of Outdoor Power Equipment and fluctuating prices of the raw materials are expected to hinder the market growth. Since, garden-keepers are relatively cheaper, consumers in developing countries are unwilling to spend significant money on equipment maintenance.

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https://www.fortunebusinessinsights.com/outdoor-power-equipment-market-106369

New Product Launches and Partnership Strategies to Drive Market Share

Key market players are Alfred Karcher SE Co. Ltd, Yamabiko Corporation, Husqvarna group, Techtronic Industries Co. Ltd, MTD Products Inc, and TTI Group. In May 2022, Andreas STIHL and Briggs & Stratton partnered for manufacturing and developing the offerings of STIHL products in the U.S. STIHL introduced a line of zero-turn mowers for professionals and homeowners.

Notable Industry Development

• November 2021: Toro Company introduced three new products to meet the growing demand for landscape contractors. The company introduced the new products at GIE + Expo 2021 in Kentucky. The company has showcased the new revolution series of battery-powered commercial lawn care equipment.

List of Key Companies Profiled in the Report:

• Kaercher (Germany)


• Yamabiko Manufactures (Japan)


• Husqvarna Group (Sweden)


• andreas stihl ag company kg (Germany)


• Techtronic Industries (U.S.)


• Maruyama U.S., Inc. (U.S.)


• Stanley Black & Decker (U.S.)


• MTD Products (U.S.)


• Makita Group (Japan)


• Vb Emak (Italy)


• Toro Company (U.S.)


• Hikoki (Japan)


• Deere (U.S.)


• Jonsered (Sweden)


• Bosch (Germany)


• Honda (Japan)


• Cub Cadet (U.S.)


• Troy Blit LLC (U.S.)

Further Report Findings

• The market in North America dominated the Outdoor Power Equipment market share accounting for USD 15.26 billion in 2022. The market in the region is growing due to increasing number of DIY and commercial lawns and parks. Major equipment used in the region are leaf blower, chain saw, and lawnmowers daily in the garden, parks, corporate, and residential sectors.

• Europe is set to have rapid growth due to the adoption of automation and electronics.

Table of Segmentation